EU Inks Trade Deal With Papua New Guinea

Law360, New York (July 30, 2009, 5:02 PM EDT) -- The European Union and Papua New Guinea signed off Thursday on an interim economic partnership agreement that will allow the South Pacific island to export to Europe without forking over trade charges in exchange for the gradual lifting of duties on most European imports.

Under the terms of the deal, first brokered in November 2007, all imports from Papua New Guinea and Fiji will have immediate duty-free access to the European market, with short transition periods for rice and sugar, according to the European Commission....
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